PNB said in the statement that unauthorized transactions of some fraud were found in a branch of Mumbai. These transactions are going to benefit some select account holders and they have a connection between them.
New Delhi: PNB has acknowledged that some fraudulent transactions have been detected in a Mumbai branch. These transactions are $ 1.171 billion or about 11,334.4 million rupees. This case has been sent to law enforcement agencies for recovery. The bank said that on the basis of these transactions, other banks may have given loans to some customers abroad. This matter has already been sent to Law Enforcement Agencies, which will take action against the guilty according to the law. In this case, the bank has suspended its 10 employees and disciplinary action will be taken against them.
Getting action on the matter
PNB said in the statement that unauthorized transactions of some fraud were found in a branch of Mumbai. These transactions are going to benefit some select account holders and they have a connection between them. The bank said that on the basis of these transactions, other banks have probably given loans to some customers abroad. The bank said that it is committed to clean and transparent banking. CBI has taken action against PNB’s complaint.
Ministry of Finance looks at the matter
The Finance Ministry today dismissed the fears raised by the Punjab National Bank PNB about Rs 11,334 crore scam, and said that this matter is not ‘out of control’ and proper action is being taken about it. In the Financial Services Department, Joint Secretary Lok Ranjan said on the occasion, “I do not think it is a matter of great concern outside or out of control.”
This second case of fraud in the bank
In less than ten days this second case of bank fraud has emerged. Earlier on February 5, the CBI had registered a fraud case involving Rs 280.70 crore with PNB in 2017 against billionaire diamond trader Neerav Modi, his wife, brother and a business partner. The CBI has taken this action on PNB’s complaint. It has been said that Modi, his brother Nishal, wife Ami and Mehul Chinubhai Choksi, along with the bank officials, cheated the bank in the conspiracy and wrongly damaged it.